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Dealings in securities by directors and the company secretary
FORTRESS REAL ESTATE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share code: FFB
ISIN: ZAE000248506
Bond company code: FORI
LEI: 378900FE98E30F24D975
("Fortress" or the "Company")
DEALINGS IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY
Shareholders and noteholders are referred to the announcements released on SENS on 3 November 2022,
10 November 2022 and 17 September 2025, respectively, relating to the acceptance of cycle awards, matching
scheme share awards and conversion awards, all awarded in terms of the Fortress Conditional Share Plan (the
"CSP"), and are advised of the following information relating to dealings in securities by directors and the
company secretary of Fortress resulting from the settlement of the cycle awards, matching scheme share awards
and conversion awards:
Settlement of the 2022 cycle awards made under the CSP:
Name of director: Steven Brown
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 1 289 552
Deemed price per security: R22.94
Total value: R29 582 322.88
Nature of transaction: Off-market settlement of shares pursuant to cycle awards made
under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Ian Vorster
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 850 179
Deemed price per security: R22.94
Total value: R19 503 106.26
Nature of transaction: Off-market settlement of shares pursuant to cycle awards made
under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Vuso Majija
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 724 653
Deemed price per security: R22.94
Total value: R16 623 539.82
Nature of transaction: Off-market settlement of shares pursuant to cycle awards made
under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of company secretary: Tamlyn Stevens
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 416 741
Deemed price per security: R22.94
Total value: R9 560 038.54
Nature of transaction: Off-market settlement of shares pursuant to cycle awards made
under the CSP
Nature and extent of company secretary's interest: Direct beneficial
Clearance to deal received: Yes
Settlement of the 2022 matching scheme share awards made under the CSP:
Name of director: Steven Brown
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 204 890
Deemed price per security: R22.94
Total value: R4 700 176.60
Nature of transaction: Off-market settlement of matching shares in terms of the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Ian Vorster
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 182 738
Deemed price per security: R22.94
Total value: R4 192 009.72
Nature of transaction: Off-market settlement of matching shares in terms of the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Vuso Majija
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 164 479
Deemed price per security: R22.94
Total value: R3 773 148.26
Nature of transaction: Off-market settlement of matching shares in terms of the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of company secretary: Tamlyn Stevens
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 85 016
Deemed price per security: R22.94
Total value: R1 950 267.04
Nature of transaction: Off-market settlement of matching shares in terms of the CSP
Nature and extent of company secretary's interest: Direct beneficial
Clearance to deal received: Yes
Settlement of the 2025 CSP conversion awards:
Name of director: Steven Brown
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 352 163
Deemed price per security: R22.94
Total value: R8 078 619.22
Nature of transaction: Off-market settlement of shares pursuant to conversion awards
made under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Ian Vorster
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 277 919
Deemed price per security: R22.94
Total value: R6 375 461.86
Nature of transaction: Off-market settlement of shares pursuant to conversion awards
made under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Vuso Majija
Transaction date: 30 September 2025
Class of securities: Fortress B ordinary shares
Number of securities: 249 870
Deemed price per security: R22.94
Total value: R5 732 017.80
Nature of transaction: Off-market settlement of shares pursuant to conversion awards
made under the CSP
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
30 September 2025
Lead sponsor Debt sponsor and joint equity sponsor
Java Capital Nedbank Corporate and Investment Banking,
a division of Nedbank Limited
Date: 30-09-2025 02:30:00
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